Chapter 3 Controllers and U.S. Gov’t Regulation and Taxation
How to Reduce Exposure to Gov’t Agencies and Enforcers
Everything Auto Dealers Need to Know About IRS Form 1099
Everything Auto Dealers Need to Know About IRS Form 8300
U.S. Tax Reform 2018 – What’s In There for Auto Dealers

This comprehensive dealership management resource contains actual job descriptions (More than 100) from dealerships throughout North America. You’ll find valuable job description samples to help you get the most benefit from 30+ critical positions in your dealership organization. Learn More

How to Protect the Value of the Business/Enterprise
Highlights from Kerrigan's Blue Sky Report
Strap a Rocket to Your Used Car Department
Government Agencies Targeting Auto Dealers
How to Fire Someone Fearlessly… Humanely
How and Why to Hire Millenials
New Hiring Technologies & How to Use Them

CHAPTER 2 - FINANCIAL MONITORING & MANAGEMENT BEST PRACTICES

Getting More and More Actionable Data From Your DMS
Turning Balance Sheet Assets Into Hard Cash
A Fresh Look at Forecasting & Budgeting Basics
Expense Control - Getting Back to Basics
New Tax Rules… How & Why of Captive Insurance Company Creation
Back Office Consolidation for Auto Groups

CHAPTER 3- LATEST IN DEALERSHIP DATA MANAGEMENT

How to Protect Against Sudden DMS Price Increases
How to Choose a CRM - DMS or Other 3rd Party?
New Technology Useful to Auto Dealerships
How & Why of Dealership Cyber-Security

CHAPTER 4- UNLOCKING FIXED OPS POTENTIAL IN 2017

How to Strap a Rocket to Your Service Department
Business & Financial for Service Managers
The Service Pricing Challenge - Getting the Right Price
Service Pricing vs. Value Debate
7 Essential Service Management Key Indicators
Re-Engineering the Parts Pricing Matrix
How to Avoid Parts Physical Inventory Nightmares
Advanced Body Shop Management

CHAPTER 5- UNLOCKING VARIABLE OPERATIONS POTENTIAL IN 2017

New Look at Prospecting - How to Bag 1/3 of Future Sales
Employing Video Presentations in the Sale Process
How to Use Tablets in Your Selling System
The How To of Video Walk-Around Demos
Pay-Per-Click - How to Manage a Successful PPC Campaign
Magic of Geo-Fencing… Marketing to Customer Smart Phones
Online Tactics to Maximize CPO Sales
Recruiting and Keeping the Very Best BDC Reps Learn More

About Jeff Sacks:
Jeff Sacks is considered one of the premier experts in dealership operations with a 30+ year career that warrants the high regard he’s held in.

Jeff immigrated to the United States in 1977 and immersed himself in the world of car dealership operations. He gained a degree in accounting and one in business finance, and together with his ‘in the seat’ practical experience, he carved out an enviably unique insight into dealership operations that has helped many clients across the global automotive industry.

After gaining first-hand experience in a variety of dealerships, Jeff established Jeff Sacks & Associates, a consulting company dealing with the specific needs of his automotive clients. Years later, he created and facilitated the General Manager’s Bootcamp. In 2009, Jeff returned to his roots as operating President with Jeff Sacks & Associates (Jeff Sacks Auto) in order to provide customized programs to his clients, including the highly respected General Manager Workshop.

Jeff’s passion and vision in the industry has made him a sought-after speaker, helping to improve dealership functionality relating to process improvement strategies, asset and expense controls, computer utilization, management information systems and more. Learn More

-Nurture and Protect the Dealership's Assets
-Maximize Profit and ROI
-Take Advantage of New Savings and Money-Making Opportunities
-Protect the Value of the Automotive Enterprise

This Guide contains Executive Summaries of 24 Senior Dealership Management Topics... all drawn from DealersEdge Workshops featuring a team of Industry Experts... each a specialist in their field.

Here's What's Included:

Financial Controls & Analysis

-Accounting Office Consolidation for Multi-Location Dealer Groups
-How to Manage the Balance Sheet & Turn Paper Profits Into Hard Cash
-How to Maintain Your Focus on Expense Controls... Even in the Good Times
-How, Why & When to Create Your Own Captive Insurance Company
-Which Government Agencies are Targeting Auto Dealers...How to Reduce Exposure

-How Your Dealership Business Plan May be Eroding Future Enterprise Value
-Dealership Valuation... "Blue Sky" is NOT What it Used to Be
-Big Themes from the Kerrigan "Blue Sky Report"

Nurturing Your Most Important Asset - Your Team

-Guiding Your Team to Success... The Management Magic of One-on-One Coaching
-Tips on How and Why to Hire Millennials (GenY) for Your Dealership
-Predicting Success With a Better Hiring Process
-Employment Law for Car Dealers... 4 Things you Need to Know
-Fearless Firing... Effective, Confident & Humane...and Staying Out of Trouble

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Our Team of Experts

All the Essays in this Guide are Executive Summaries reporting on the expert content provided by these well-known auto industry experts:

SUBSCRIPTION OPTION:
You can upgrade your purchase to a 1-year subscription, allowing you full NO-ADDED CHARGE access to all future Live Webinars (45+ per yr) and our online library of over 160 Recordings of past programs. For just $299 more than the price of this program, you get it all for a period of one year! That is a total of just $597 for your single-person subscription (Season Ticket) including this program. You are free to cancel at any time during the first six months and receive a refund of the additional $299 paid for this upgrade - for any reason! Learn More

Navigate auto dealership valuation hazards with insights from industry leaders.
Changing market conditions, an array of industry-specific value drivers, and other considerations can make it difficult to describe “the value” of an auto dealership. With a lively industry landscape, business appraisers should be prepared for an increased demand for auto dealership valuation, while owners need to know how to create more value in their dealerships to get the most when they are ready to sell. What It’s Worth: Auto Dealership Value (formerly Key Trends Driving Auto Dealership Value) provides you with wisdom from numerous experts who work with auto dealerships and study the valuation issues associated with this industry daily. These individuals include accountants, brokers, M&A executives, former dealership employees and owners, and other consultants and advisors. Combined, these experts point you in the direction to “hit the mark” when valuing and understanding the value of a dealership. There is no better resource for you than these professionals who advise on buy/sells, executives who lead their groups on acquisition strategy, and professionals whose financial livelihoods depend on transactions in this space.

Highlights of the report include:

Get key valuation techniques for appraisers - this report educates readers on issues such as the real estate considerations for auto dealerships, the used vehicle and independent dealership market segment, and the need for succession planning
Learn how to build value in a dealership for future sale and what the larger retailers are thinking in terms of future acquisitions
Access real-world data that aims to support your conclusions when assessing the value of a dealership
Get insight on the current market trends and what really drives value in an auto dealership

Table of Contents

INTRODUCTION

SECTION I: THE CURRENT LANDSCAPE OF VALUE IN AUTO DEALERSHIPS

THE CURRENT LANDSCAPE OF VALUE IN AUTO DEALERSHIPS
WHAT DRIVES VALUE FOR AUTO DEALERSHIPS
CURRENT MARKET TRENDS IN NEW AND USED AUTOMOBILE SALES
By Travis Flenniken, CFA, CVA

SECTION II: VALUATION CONSIDERATIONS FOR AUTO DEALERSHIPS
METHODS AND TRENDS IN VALUING AUTO DEALERSHIPS
USING THE CIMI METHOD TO VALUE AUTO DEALERSHIPS
WHY REAL ESTATE IS AN IMPORTANT COMPONENT OF AN AUTO DEALERSHIP VALUATION
By Adam Lawyer, CPA/ABV/CFF

THE SPECIAL ISSUES YOU SHOULD CONSIDER WHEN VALUING OR SELLING A USED CAR DEALERSHIP

SECTION III: BUY-SELL TRENDS IN THE AUTO DEALERSHIP MARKET

HOW UNDERPERFORMING DEALERSHIPS CAN SELL AT GOOD MULTIPLES: A CASE STUDY
By Travis Flenniken, CFA, CVA
BUY-SELL ACTIVITY IS ON THE RISE FOR AUTO DEALERSHIPS
By Adam Lawyer, CPA/ABV/CFF

SECTION V: FINANCIAL AND VALUATION DATA
NEW AND USED AUTOMOBILE DEALERSHIP VALUATION MULTIPLES BASED ON PRATT’S STATS
By Adam Manson
USED AUTOMOBILE DEALERSHIP VALUATION MULTIPLES BASED ON DATA FROM PRATT’S STATS
By Adam Manson
PRICING A NEW CAR DEALERSHIP—RULES OF THUMB
PRICING A USED CAR DEALERSHIP—RULES OF THUMB

SECTION VI: APPENDIX
NEW AND USED CAR DEALERSHIPS:
SOURCES OF INDUSTRY INFORMATION Learn More

Essays on Strategies to Analyze and Grow Your Dealership or Auto Group

New Car Dealerships: fits the general description of a local small business, but each dealership organization can be described by these characteristics:

1st: Comes with some rather sophisticated financial analysis tools.
2nd: Requires a rather complex organization chart to manage effectively.
3rd: Is constantly being presented with an ever increasing array of new ways to successfully study and grow each profit center… as well as the entire dealership organization.

The DealersEdge® Workshop Series routinely includes presentations by recognized industry leaders on topics that address the Senior Manager's need for an update on new ways to analyze and grow the business in a changing business environment.

This collection of essays, based on recent DealersEdge® Workshops, summaries for you in print the ideas and suggestions of these industry experts… putting them all together in one place so you can compare and choose which might work best for your dealership organization.

Essays Included in this 200+ Page Collection:

The Big Picture:

1. How to Read and Analyze the Financial Statement
2. A Strategic Vision for Dealerships in 2025
3. Key Performance Indicators - Keys to Professional Management & Growth
4. How to Run Your Store by the "REAL" Numbers
5. Forecasting or Goal Setting? A look ahead!
6. How to Maximize the Value of your Dealership or Group
7. A Car Dealer's Six Step Guide to Strategic Planning

1. Six Profit Leaks in your Used Car Operations and How to Fix Them
2. What Dealership Leaders Need to Know about Fixed Operations
3. How to Achieve and Maintain 100% Service Absorption
4. How to Create a Successful Business Plan and Forecast for Service
5. A New and Better Way to Evaluate Parts Department Performance Learn More

Love 'em or hate 'em, numbers are a critical piece to the Parts management puzzle.

Simply put, numbers are your detailed score card of what you're doing right and what you're doing wrong. Master the numbers game and your Parts department will consistently deliver solid profits. Misunderstand or ignore the numbers and your department, and your job, are in serious jeopardy.
No matter where you are on the "numbers learning curve," you'll want to take a look at this just released guide — DealersEdge Benchmarks & Best Practices: Winning the Parts Management Numbers Game.

Discover practical ideas to help you:
• Fine tune your DMS to produce more accurate reports
• Spot profit opportunities in your financial statements
• Improve off-the-shelf fill rates and level of service
• Increase inventory turns and minimize obsolescense
• Maximize ROI on the dealer's investment in inventory
• Show your entire Parts team how their efforts affect the dealership's bottom line
Find out how the magic of numbers management can help you squeeze thousands of additional profit dollars from your parts inventory. Discover:
• How carefully reviewing financial statements helped one Parts Manager cut costs and increase gross profits by $50,000 a year
• Proven strategies to improve forecasting on slow moving parts and reduce that idle capital
• A systematic approach to uncovering and eliminating the root cause of parts obsolescence
• Where to look when your physical inventory doesn't match what's on the books
• Two commonly overlooked reports every Parts Manager should use as part of their inventory management routine
• How properly using receipt codes can help you accuratelymeasure your purchasing performance
• Techniques for winning the debate over how to handle parts costs on vehicle reconditioning
• Mike Nicholes' ten question inventory management quiz
• An exercise guaranteed to help you recapture lost sales postings
• The 12 most important aspects to parts department management from Lloyd Schiller
If you're not already convinced, consider this... If the guide helps you better understand even one or two key concepts of Parts management by the numbers then your investment will be returned many times over. Learn More